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Banks, investment funds and stock exchanges in Costa Rica and around the world must report, starting July 2013, the balances and movements on investments of U.S. citizens to the Internal Revenue Service (IRS).

The obligation is based on the Fair and Accurate Credit Transactions Act, a United States federal law, passed by the United States Congress that asks agencies to document all those customers and transfer this information to U.S. tax collector.

Financial institutions violating the provision are exposed to the IRS withholding 30% of all interest, dividends or profits sent from the United States.

“Factat applies to all entities around the world as the U.S. wants to better regulate their capital and above all raise more the taxpayer escapees”, Enrique Rojas, tax manager with Deloitte told La Nación.

Too meet the requirements, financial institutions must sign an agreement with the IRS, and to inform customers about the extent to which they, in turn, authorize a disclaimer.

“If the customer does not want to sign the release, the entity must close the account, because otherwise, violates the Fatca”, said Rojas, who commented that many of these people have such investments outside the US hidden away from the IRS.

As the last remaining Venezuelan television network still able to critique President Hugo Chavez, Globovision covers stories other networks are afraid to or are now unable to cover. However, coverage of the deadly prison riot in June has landed them with a multi-million dollar fine from the Venezuelan government.

Globovision was handed a $2.1 million fine has been called “one more attack by a government that has only fear of freedom of expression” by the network majority owner, Guillermo Zuloaga.

The riot lasted 27 days and in the end, three people were killed in gunfights, which began as a result of a raid in an adjacent prison. Authorities say another four people were killed outside the prison, inmates who had escaped in the fighting.

The fine is a result of what Venezuela’s telecommunications regulator Pedro Maldonado referred as improper “editorial conduct” which included an “apology for crime,” causing anxiety amongst citizens, resulting in them feeling “hatred and intolerance” for their government.

Maldonado added that Globovision violated the country’s broadcast regulations when it repeatedly aired emotional interviews with relatives of the prisoners. He also stated that the fine was in part due to the network failing to air broadcasts of government officials sent out by state officials.

The $2.1 million fine is the equivalent of 7.5 percent of the channel’s gross revenue.

Mexico City is hosting more than 500 clowns from all of Latin America, who are in the city to march and to try and break the world record for the largest group of people laughing at the same time.

Clowns from all over Latin America gathered in México City for the 16th “Laughter Fair.” There will be three days of all things “payaso” fun and games. The funny men (and women!) use the fair to swap skills, tips and show off their comedic talents.

In 2009, fair organizers launched an initiative they called “5 minutos de risa,” an event where the clowns laughed for five straight minutes and in 2010, organizers decided to double the time. Now this year they have decided to triple it, and go for the world record.

After the 15 minutes of laughter, the enormous group of clowns vowed to go on a march, to end violence in México and promote laughter.

A Houston-area father who claimed he was “frustrated” when he gave his pre-teen daughter weapons to use to kill herself has been arrested.

Alejandro Galvan III, 29, of the south Houston neighborhood of Wilmington, was arrested after his 11-year-old daughter told detectives her father punched and beat her with a belt before giving her a gun and knife and telling her to commit suicide.

Police said Galvan eventually confessed to beating his daughter and said the gun was not loaded, and that he only gave her the knife and gun because he was “frustrated.”

The young girl said she was hit in the stomach, legs, and buttocks with the belt and punched her in the right arm.

Houston police determined that the daughter’s injuries were caused by punishment well beyond what is necessary for appropriate corporal punishment.

Friday, he was charged with felony injury to a child, and is scheduled to appear in court on November 1.

The girl was taken to the hospital when the injuries were discovered. She has since been released and Child Protective Services has placed her with her biological mother.

The Obama administration’s top Hispanic official, Secretary of the Interior Ken Salazar is pushing for increased attention to American Latino history, saying more National Historic landmarks should showcase said history.

Salazar, who is responsible for overseeing the National Park Service, has announced four new Latino-themed National Historic landmark nominations he believes deserve to be included in the National Register of Historic Places or being included as national parks or historic landmarks.

Last week, Secretary Salazar told reporters, “Less than 3 percent of all the national landmarks that we have — the highest designation you can receive as a historic landmark — are designated for women, Latinos, African Americans or other members of minority groups. That tells you that the score is not even.”

He was sure to add that while topics of specific interest to Hispanics/Latinos may be hot topics in the on-going presidential debates, it has nothing to do with increasing the number of National Historic landmarks specific to the country’s Latino history.

At a meeting hosted by the Christian Science Monitor, Salazar said, “I think when you look at the way Americans most understand the history of Latinos in this country, a lot of it is being told now through the lens of what’s happening with the immigration debate. While that’s an important debate that has security and moral implications, in my view, there’s also a huge history of Latinos in the United States that’s never been told.”

At Tuesday’s GOP debate, Mitt Romney and Texas Gov. Rick Perry really seemed to get under each other’s skin, interrupting and even putting their hands on one another, but Perry was not holding anything back when it came to Romney’s history on immigration.

“You stood here in front of the American people and did not tell the truth,” Perry said, “You had illegals working on your property. A newspaper brought it to your attention and you still, a year later, had those people working for you.”

Romney fought back however saying Perry’s policies in Texas show he is not as committed to curbing undocumented immigration as he would like voters to believe.

“When you were governor ... you put in place a magnet,” Romney said. “You talk about magnets, you put in place a magnet to draw illegals into the state, which is giving $100 thousand of tuition credit to illegals that come into this country.”

He also criticized Perry for signing a 2001 law allowing undocumented students to pay in-state tuition at state colleges and universities.

Calle 13’s “Residente” a special guest at Shakira’s final “Sale el Sol” tour date in Puerto Rico, had a note written with a sharpie on his back that read “Today, I am Your Piqué.”

The Colombian singer’s tour started September 15 2010 in Montreal’s Belle Centre, and took Shakira around the world, having her visit close to 40 nations.

Her last tour date in Puerto Rico had a special guest, René Pérez, also known as Residente, singer of the Puerto Rican band Calle 13, and close friends with Shakira. The two sung together the song titled “Gordita,” and halfway through the show, Pérez took his shirt off, to reveal a note written on his back that read “Today, I am your Piqué.”

Take a look at the video below, and join us in our forums section for the conversation.

Take a look at 2011 MTV European Music Awards Host Selena Gómez congratulate herself, and her mirror-reflection-gangsta’ self in this rap promo!

Hosted by Selena Gomez, the “2011 MTV EMA’s” will take place Sunday, November 6 at 9 p.m. CET from Belfast, Northern Ireland. In the U.S., the show will premiere on Tr3s: MTV, Musica y Mas on Sunday, November 6 at 6:00 p.m. ET/PT, and on mtvU on Monday, November 7 at 12:00 p.m. ET/PT.

Monday, after Sens. Charles Schumer (D-NY) and Rand Paul (R-KY) reached an agreement, the Senate approved extending $36 million of Supplemental Security Income (SSI) to about 5,000 refugees, asylees, victims of human trafficking, and other humanitarian migrants who are elderly or disabled who have been cut off from a critical form of support.

In 1996 Congress passed welfare reform legislation which placed a time limit on the eligibility of refugees and humanitarian migrants who have not yet become U.S. citizens for SSI, a modest monthly income for individuals who are elderly or disabled and have few resources. However, Congress failed to extend SSI assistance to these vulnerable migrants by the September 30, 2011 deadline, an estimated 4,600 individuals have lost access to this assistance. This number grows by 250 individuals every month that Congress does not act.

After Sen. Paul voiced his concerns about the accuracy and accountability of the program with Sen. Schumer, the Senators were able to come to an agreement on how to address the broken system that is refugee welfare, and launch an investigation and hearings into how certain individuals, including the alleged terrorists apprehended earlier this year in Sen. Paul’s hometown of Bowling Green, Ky., were eligible for these benefits.

“Taxpayer-funded benefits to non-citizens is a luxury program afforded to refugees and managed so poorly that some of its beneficiaries have been found to be threats to the United States, as we saw earlier this year in Bowling Green. I cannot in good faith allow this bill to pass without first addressing the management of this program and ensure we are not supporting terrorists in our own backyards with tax dollars,” Sen. Paul said.

Sen. Schumer however, praised the program saying that the people it helps are those “who have aided American troops abroad in Iraq and Afghanistan.” Adding that for many of them, SSI is “their only lifeline to stay afloat.”

The New York Senator also pointed out that the program is paid for by the $30 fee paid by those who enter the U.S. green card lottery program held each year. Though only 50,000 visas are given out, in 2011, 8.7 million entries were received.

Players Marco Fabián and Alberto Medina had a disturbing bet amongst them, that whoever scored first, would “execute” the other in “celebration.” They however did not count on the negative backlash they are receiving for it.

Mexico’s Chivas of Guadalajara team has issued an apology for the regretful “celebration” of a goal between two of their star players, especially in light of all the violence in the country amongst the narco cartel gunmen or ‘sicarios’.

Following an inspiring first goal of five the team would score on the Estudiantes Tecos team, Marco Fabián stopped in front of teammate Alberto Medina, pointed his finger to Medina’s forehead and mimicked the cocking of a pistol. Fabián then “fired” at Medina, who allowed himself to fall back, as if executed point blank.

Commentators remarked that the beauty of the play and subsequent goal had been overshadowed by the absurd celebration.

“We didn’t think this through,” said Fabián after the game, “truth is Alberto and I had a bet, that whoever scored first would celebrate this way.”

The player was given a yellow card while on the field for the celebration, and after the game, the clubhouse released a press statement reprimanding him for the incident.

Mexican fans and media are outraged, many commenting on how desensitized Mexico players are, that violence and executions find their way to celebrations.

The Guadalajara team said it “regretted” the players’ celebration and reminded fans and media it is “always in favor of ‘No Violence.’”

Pocho, the domesticated Costa Rican crocodile will be immortalized and put on display in a museum in the village that cried upon hearing of his demise and prayed him onto the great beyond.

Siquirres, the Costa Rican town that organized a procession and funeral for one of its most dear pets, Pocho, will have the animal embalmed and put on display at the local museum, which used to be his home.

Smoking is regaining popularity among young people in the Dominican Republic, and now the Philip Morris Dominicana company is announcing a plan to invest RD$500 million (approximately $13M USD) in the Dominican market.

Director Ricardo Petrikovich said that the company intends to increase its presence in the country. Philip Morris has been in the country for 40 years manufacturing Marlboro and Nacional cigarettes.

Petrikovich said the company was promoting the planting of Burley tobacco for cigarette manufacturing. “Our intention is to continue to increase our support for producers, with financing, training, advisory services and investment in related areas,” he said during a meeting with reporters in Santiago. At the same time Petrikovich said that the company would continue with programs to prevent cigarette consumption among minors.

He said the company has obtained international environmental management certificate ISO 140001 and health and labor security certificate OHSAS 18001.

Agriculture Deputy Secretary Kathleen Merrigan will lead the U.S. delegation to the Sixth Meeting of the Ministers of Agriculture of the Americas in San José, Costa Rica, October 19-21. The theme of the ministerial is “Innovation for Sustainable, Competitive and Inclusive Agriculture.”

“At this ministerial forum, agriculture officials from across the Western Hemisphere will discuss how innovation can make agriculture competitive, sustainable and inclusive,” said Merrigan. “Whether investments are made on the farm, in the supply chain or at the market where the food is sold, they will contribute toward ensuring food security and addressing the challenges of climate change.”

While in San José, Merrigan will present the U.S. perspective on the role of innovation as a solution to combating hunger and conserving natural resources, as well as encouraging the Inter-American Institute for Cooperation on Agriculture (IICA) to continue its efforts to review and establish a sustainable working budget for the organization.

The ministerial meeting is taking place in conjunction with the biennial meeting of the IICA’s highest governing body, the Inter-American Board of Agriculture. IICA was founded in 1942, thanks to the vision of Henry Wallace, then the U.S. Secretary of Agriculture, and Ernesto Molestina, Director General of Agriculture of Ecuador. IICA’s work helps promote stability in agriculture and trade among its 34 member countries and strengthens agricultural cooperation in the Western Hemisphere.